Clubbing of rents received on irrevocable transfer to spouse
Querist : Anonymous
and comes under 30% slab and she wants to reduce her tax liability legally.
option 1
Can she she gift commercial buildings to her husband to reduce her tax liability ?
whether clubbing provisions applicable in this case ?
option 2
Can husband purchase the above property from his wife at market value and declare
rents received as his income ?
which option is better ? kindly advise and also precautions to be taken in this tax planning.
Option 2 Yes option 2 is better but he should have sources to buy of his own.
Querist : Anonymous
can he borrow from bank and purchase the property ?
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